Last Updated 7/19/07
Seller's Frequently Asked Questions
Q: How much money will I get for my home?
A: There are many variables
to consider. When I develop a Comparative Market Analysis (CMA) on your home, I try
to get the most current information, just as the lender's appraiser will do. This is
derived primarily through information from the San Antonio Board of RealtorsŪ
(SABOR) which gives us a history of how much homes in your area, similar in size, age,
etc., have sold for in the past few months. Then we estimate how much it will cost to close the sale. The result is the net amount
you will probably have in your pocket after all is said and done. That
sounds pretty simple, but it isn't.
Q: Do I need to repaint, recarpet, reroof, remodel, refurbish, reclean or otherwise "re" anything in my home before we put it on the market for sale?
A: Probably. I like to think that most buyers realize they are not buying a brand-new home when they are buying a pre-owned (which is a nice way of saying "used home.") Yes, more than likely you will have to take some extra steps towards getting the home ready to put on the market for sale. Little things like keeping the home neat and tidy, picking up dirty clothes, making beds, cleaning windows, putting the dishes away, getting rid of the odor caused by cats and dogs (and with two big dogs I know a lot about this), go a long way towards impressing buyers. I had a buyer tell me that he would not consider purchasing the home we were looking at because "obviously the owner doesn't maintain this home." Although the house itself looked good, pretty much everything I described above was present. It's hard to get excited about a mess. We RealtorsŪ refer to this as "NOT READY TO SHOW!"
As for does it need paint, etc.? When I visit you for the initial interview/listing appointment I want you to show me your home room by room. I want you to impress me. Then, after we get finished viewing I can give you my opinion of what, if anything, might be touched up to make it look even better. I love it when a seller tells me they have to do a lot of work to get ready when in reality the home already shows like a model. Just a little sprucing up here and there and we are ready to go. On the other hand are the sellers who need a front-end-loader to clean up the house. Granted, it's their home and they are comfortable and that's great. BUT...we are trying to sell it, so we need to play the game and get it ready with repainting, recarpting, recleaning, etc., etc., etc.
It is very important to be ready to have potential buyers visit your home. Sit in the middle of your home with a pencil and paper and jot down all the things you see that a buyer might like or dislike. Be honest with yourself. Act like you are going to buy this home. You will likely end up with a good list of items, good, bad or indifferent.
Q: If I sell this home by myself will I save money?
A: Maybe. You wouldn't have Realtor'sŪ fees to worry about. Other than that...
- Who will be home to take a stranger's call when he/she
wants to look at the home?
- Who will be there to let this stranger (who you don't know from Adam)
into your home?
- Are you prepared to be at home on weekends - all day, to allow people
into your home?
- Who is going to qualify this stranger to see if they are capable
of buying your home?
- You have probably heard the term "Buyer Beware". How
about "Seller Beware"?
- Do you have the house priced right?
- Advertising?
- Who is going to do all that paperwork?
- How are you going to market your home to let people know it's for
sale?
- Do you know the laws pertaining to disclosures and such?
- The bottom line...do you know what you are doing? This is not
like selling a car.
Oh yes, you can "save" a little money
by being a "For Sale By Owner". On the other hand you might wish in the end that you
had a professional RealtorŪ on your side taking care of all the problems that tend to arise
during the sale of a home. Most of us RealtorsŪ have the necessary experience to know
what buttons to push to make things happen correctly. And...there is no substitute
for experience.
Q: Gary, you presented your CMA and suggested selling price, but I want more than that for my home. Is this possible?
A: Sometimes I do a CMA before I have actually seen the inside of the home. The CMA gives me an average sales price for the home, not necessarily the asking price I would recommend. If your home is above average because you have taken good care of it and perhaps added such things as new carpeting, landscaping, more rooms, etc., we might be able to ask more than the average price. But, then again, if it needs a lot of work....
My goal is to get you the very best price for your home. Mr. Buyer can offer you a high price for your home. But when his lender sends out an appraiser to justify the loan and the appraiser says it's not worth that much...guess what happens next? Mr. Buyer is probably not going to want to dig into his pockets for the money need over and above what his lender said the home is worth. So...let's price it right to start and we will sell your home.
If you would like me to supply you with a Comparative Market Analysis (CMA) of your home, please fill out the information below and click "Submit". Please understand this CMA is based solely on the average sale price of homes sold in your area within the past six to twelve months. It is NOT an appraisal of your property. I can only do CMA's for homes within Bexar County.
If you have questions, feel free to send me an email
Gary Prendergast is a licensed RealtorŪ with Best Homes GMAC Real Estate
REALTORŪ
is a registered trademark that identifies a member of the NATIONAL
ASSOCIATION OF REALTORSŪ.
The information contained herein is
deemed reliable and provided by other
sources. Buyer should independently verify same before relying thereon.
All
offerings are subject to prior sale, omissions, changes or withdrawals with-
out notice. If your property is currently listed with a real estate
broker,
please disregard. It is not our intention to solicit the offerings of
other
brokers. We are happy to work and cooperate fully with them.